Comment by admax88qqq
4 years ago
I can't pay my hydro bills with shares of a private company either or japanese yen either, it doesn't mean those things have no intrinsic value.
4 years ago
I can't pay my hydro bills with shares of a private company either or japanese yen either, it doesn't mean those things have no intrinsic value.
The difference is that you can pay someone with JPY and that's the whole transaction. When you pay someone in BTC, you also have to pay the power company with something. The system is an inherently leaky bucket.
> When you pay someone in BTC, you also have to pay the power company with something. The system is an inherently leaky bucket.
The same holds for, say, transactions in US dollars. Here, you also pay your bank or your credit card company.
That's not a fundamental property of fiat money. There is no fee for exchanging cash.
2 replies →
no one said that. you're paying in some fiat, right?